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How much of this price increase is due to money laundering https://financialpost.com/real-estate/billions-in-dirty-cash-helped-fuel-vancouvers-housing-boom http

• TheAdamAndChe 6y ago
  And how much more of it is preparation for the effects of global warming? I'm personally strongly considering buying land in Alaska because the land will be far more livable in just a few decades. It makes sense that people around the globe would start preparing in Canada too.
  • cmrdporcupine 6y ago
    The major metropolitan areas of Canada are no colder (and often quite warmer) than their neighbouring US cities. Toronto and Chicago are fairly comparable, and Vancouver and Seattle pretty much the same. Alaska and southern Ontario are about as comparable as Vermont and Florida. An argument could be made that people move to Canada for political stability, though.
• lioeters 6y ago
  > In real estate alone, an estimated $5 billion may have been laundered last year [2018] in the province — equivalent to 4.6 per cent of all transactions by value in that period, according to one of the reports. > In the Vancouver region, where housing prices rose more than 70 per cent in five years, “I certainly believe that money laundering played a part,” James said. > Such a share of transactions is “sufficiently large to have an observable impact on real estate prices,” the report said. > It estimated that dirty money pushed B.C. home prices 3.7 per cent to 7.5 per cent higher than they would be in the absence of laundering.